Regular physical exercise can reduce the risk for several diseases and improve the overall quality of life. There is tremendous growth in fitness training centers, because of growing health issues across the world. Hence, increasing the number of fitness centers has created a huge demand for fitness equipment. This key factor strongly contributes to the market’s growth in the forthcoming years. In addition, obesity is a major concern in developed countries, which further rises physical exercise to avoid different diseases related to obesity. This fact directly influences the demand for fitness equipment largely.
Furthermore, increasing health awareness among people, boosting the demand for fitness equipment. The favorable government agenda of many counties to promote the benefits of physical fitness, create health awareness in the society. For instance, the U.S. Department of Health and Human Services launched a physical activity initiative for children, to grasp better health and improve students’ performances.
However, the high costs of modern exercise machinery may hamper the growth of the market. Nevertheless, in today’s world, youths are more passionate about fitness. Also, increasing economic growth has improved the spending on fitness activities. All these aspects create profitable opportunities for the growth of the fitness equipment market over the next few years.
|Market size available for years||2023–2030|
|Base year considered||2023|
|Forecast unit||Value (USD Million)|
|Segments covered||Type, End User, and Region.|
|Regions covered||North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)|
|Companies covered||Star Trac Health and Fitness Inc., Body-Solid Inc., NordikTrack Inc., Cybex International Inc., Yowza fitness, Precor Incorporated, Paramount Fitness Corp., Body by Jake Global LLC, Johnson HealthTech, Nautilus Inc., ICON Health & Fitness Inc., Fitness EM, Motus, Impulse Health, Technogym, Elliptigo Inc., Torque Fitness LLC, Burnswick Corp.|
Covid-19 Impact on Fitness Equipment Market
In addition, the current Fitness Equipment Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Fitness Equipment Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Fitness Equipment Market Segment Overview
Based on Type, Cardiovascular Training Equipment fastest-growing segment in the market. This is owing to its greater penetration in developed markets such as the U.S. and Europe. Treadmills, stationary bicycles, weightlifting machines are some of the most common fitness equipment favored by consumers for cardiovascular fitness and muscle building. Additionally, the development of wearable technology and the integration of smart devices in fitness machines and gyms are enhancing the growth of the global fitness equipment market in the coming years.
Fitness Equipment Market, By Type
· Cardiovascular Training Equipment
· Strength Training Equipment
· Other Equipment
Fitness Equipment Market, By End User
- Home consumer
- Health club/gym
- Other commercial users
- Corporate Office
- Hospitals & Medical Center
- Public Institution
Region-Wise, North America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. This is due to the high obesity rates, increased health awareness, and availability oftechnically improved fitness equipment, in this region. The U.S. expected the highest penetration of cardiovascular equipment across the globe. The market of the Asia Pacific is projected to grow at the fastest rate owing to growth in the economy and rising awareness about health, in this region.
Fitness Equipment Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Fitness Equipment Market Competitor overview
· In June 2020, Lululemon LULU -1.07% Athletica Inc. announced the acquisition of a home fitness company Mirror for $500 million, a deal that aims to capitalize on the pandemic-fueled upheaval in the fitness and retail industries.
Fitness Equipment Market, Key Players
· Star Trac Health and Fitness Inc.
· Body-Solid Inc.
· NordikTrack Inc.
· Cybex International Inc.
· Yowza fitness
· Precor Incorporated
· Paramount Fitness Corp.
· Body by Jake Global LLC
· Johnson HealthTech
· Nautilus Inc.
· ICON Health & Fitness Inc.
· Fitness EM
· Impulse Health
· Elliptigo Inc.
· Torque Fitness LLC
· Burnswick Corp.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Fitness Equipment market?
Q2. What are the restraining factors for the Fitness Equipment market?
Q3. Which segment is projected to hold the largest share in the Fitness Equipment Market?
Q4. Which region holds the largest share in the Fitness Equipment market?
Q5. Which are the prominent players in the Fitness Equipment Market?
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Fitness Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. Cardiovascular Training Equipment
- 5.2.2. Strength Training Equipment
- 5.2.3. Other Equipment
- 5.3. Market Analysis, Insights and Forecast – By End User
- 5.3.1. Home consumer
- 5.3.2. Health club/gym
- 5.3.3. Other commercial user
- 188.8.131.52. Hotel
- 184.108.40.206. Corporate Office
- 220.127.116.11. Hospitals & Medical Center
- 18.104.22.168. Public Institution
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Fitness Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. Cardiovascular Training Equipment
- 6.2.2. Strength Training Equipment
- 6.2.3. Other Equipment
- 6.3. Market Analysis, Insights and Forecast – By End User
- 6.3.1. Home consumer
- 6.3.2. Health club/gym
- 6.3.3. Other commercial user
- 22.214.171.124. Hotel
- 126.96.36.199. Corporate Office
- 188.8.131.52. Hospitals & Medical Center
- 184.108.40.206. Public Institution
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Fitness Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. Cardiovascular Training Equipment
- 7.2.2. Strength Training Equipment
- 7.2.3. Other Equipment
- 7.3. Market Analysis, Insights and Forecast – By End User
- 7.3.1. Home consumer
- 7.3.2. Health club/gym
- 7.3.3. Other commercial user
- 220.127.116.11. Hotel
- 18.104.22.168. Corporate Office
- 22.214.171.124. Hospitals & Medical Center
- 126.96.36.199. Public Institution
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Fitness Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. Cardiovascular Training Equipment
- 8.2.2. Strength Training Equipment
- 8.2.3. Other Equipment
- 8.3. Market Analysis, Insights and Forecast – By End User
- 8.3.1. Home consumer
- 8.3.2. Health club/gym
- 8.3.3. Other commercial user
- 188.8.131.52. Hotel
- 184.108.40.206. Corporate Office
- 220.127.116.11. Hospitals & Medical Center
- 18.104.22.168. Public Institution
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Fitness Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. Cardiovascular Training Equipment
- 9.2.2. Strength Training Equipment
- 9.2.3. Other Equipment
- 9.3. Market Analysis, Insights and Forecast – By End User
- 9.3.1. Home consumer
- 9.3.2. Health club/gym
- 9.3.3. Other commercial user
- 22.214.171.124. Hotel
- 126.96.36.199. Corporate Office
- 188.8.131.52. Hospitals & Medical Center
- 184.108.40.206. Public Institution
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Star Trac Health and Fitness Inc.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Body-Solid Inc.
- 10.6. NordikTrack Inc.
- 10.7. Cybex International Inc.
- 10.8. Yowza fitness
- 10.9. Precor Incorporated
- 10.10. Paramount Fitness Corp.
- 10.11. Body by Jake Global LLC
- 10.12. Johnson HealthTech
- 10.13. Nautilus Inc.
- 10.14. ICON Health & Fitness Inc.
- 10.15. Fitness EM
- 10.16. Motus
- 10.17. Impulse Health
- 10.18. Technogym
- 10.19. Elliptigo Inc.
- 10.20. Torque Fitness LLC